Toyota's research arm says to form an US$800 million investment fund

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Toyota Motor Corp's research arm said on Thursday that it would create an US$800 million global investment fund.

FILE PHOTO: A man walks past a Toyota logo at the Tokyo Motor Show, in Tokyo, Japan October 24, 2019.

Edgar SuThe fund called Woven Capital is to invest in companies in areas including autonomous mobility and smart cities, Toyota Research Institute-Advanced Development said in a statement.Earlier this year, the Japanese automaker unveiled a plan to build a prototype"city of the future" called Woven City at the base of Japan's Mount Fuji, powered by hydrogen fuel cells and functioning as a laboratory for autonomous cars.

 

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